EU announces provisional application of Mercosur trade deal from May 1

BRUSSELS, March 23 (Xinhua) -- The European Commission said on Monday that the trade agreement between the European Union (EU) and four countries of Mercosur, a South American economic and political bloc, will be provisionally applied from May 1.

The Commission said it has notified Paraguay, the current holder of Mercosur's rotating presidency, completing the final procedural requirement for the deal's provisional application. EU Trade Commissioner Maros Sefcovic described the move as an important signal of the bloc's credibility as a global trading partner.